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Sep 30, 2023
IBC Q3 2023 Earnings Report
Net income increased by 23.9% and diluted earnings per share increased by 23.9% compared to the same period in 2022.
Key Takeaways
International Bancshares Corporation reported a net income of $103.3 million, or $1.66 diluted earnings per common share, for the three months ended September 30, 2023. This represents an increase of 23.9% in net income and diluted earnings per share compared to the corresponding period in 2022.
Net income for Q3 2023 was $103.3 million.
Diluted earnings per share for Q3 2023 was $1.66.
Net income increased by 23.9% compared to Q3 2022.
Diluted earnings per share increased by 23.9% compared to Q3 2022.
IBC
IBC
Forward Guidance
The company is confident in its capital position, liquidity, deposit base, and management strategies to position it for continued success in 2023 and beyond.
Positive Outlook
- Strong capital position
- Significant liquidity
- Strong relationship deposit base
- Responsive management strategies
- Commitment to expense control and non-interest income growth
Challenges Ahead
- Future economic conditions are still highly uncertain.
- Need to carefully monitor and navigate the current environment.
- Need to balance the management of our deposit base with the cost of those deposits.
- Monitoring economic conditions impacting our loan portfolio.
- Factoring economic forecasts into allowance for credit loss calculation.